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Income booster with unique development opportunity, this property is in the zoning of: RESIDENTIAL-TERRACE HOUSING AND APARTMENT BUILDING ZONE. Making it ideal for future development with huge potential. It can meet all the investment needs or for that wise investor looking for long-term investment. This property is in a very central location, the edge of CBD.
Two-level solid built with concrete block and brick, a total of 4 home units together and all the 4 units have their own separate individual title (on Freehold Cross Lease title). Total floor area approximately 468m², on 779m² section. Annual rental income return is approximately $145,080 total. The location is highly desirable and very popular, handy to all amenities, convenient central location makes this property even more valuable. The high rental income allows buyers to have long-term ownership to land bank or ample time to prepare development plans. This property is short walking distance to St Lukes Shopping Mall, Sandringham Shopping Centre and schools. Transportation network in all directions, easy access to motorways to City Centre.
Unit 1: Two-level unit, floor area approximately 118m².
3 bedrooms, 2 bathrooms, Open plan living, Dining & kitchen, good indoor/outdoor follow onto the front garden, Separate laundry, 1 single garage.
Current rental approx: $690 per week.
Council Rate: $2,689.48 pa (approx)
Unit 2: Two level unit, floor area approximately 121m²,
3 bedrooms, 2 bathrooms, Open plan kitchen, dining, and lounge with good indoor/outdoor follow to the backyard. Separate laundry,1 single garage.
Current Rental approx: $650 per week.
Council Rate: $2,515,49 pa (approx)
Unit 3: Ground floor unit, floor area approximately 100m².
Spacious 2 living rooms, 2 double bedrooms and 2 bathrooms, separate laundry, 1 car port .
Open plan family room and kitchen with easy follow on to a private covered courtyard.
Current rental: $650 per week (approx).
Council Rate: $2,558,99 pa (approx).
Unit 4: Upper floor unit, floor area approximately 111m².
3 bedrooms, 2 bathrooms, 2 huge balconies, separate lounge, open plan kitchen and dining, Separate laundry, Tandem parking space for 2 cars.
Current Rental: $800 per week (approx)
Council Rate: $2,558,99 pa (approx)
And plus two extra parking spaces in front of the building for visitors.
School Zone:
Edendale School.
Balmoral School.
Kowhai Intermediate School.
Mt Albert Grammar School.
Motivated Vendor wants to sell all four units together, so please don't miss out on this great opportunity.